March 3, 2023
(press release)
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SBTi validation reaffirms the Group’s commitment to reduce greenhouse gas emissions across the board, in line with science. Solvay announced today that the Science-Based Targets initiative (SBTi), a global body made up of leading climate organizations1, has approved the Group’s 2030 emissions reduction targets. This validation reaffirms Solvay’s target to reduce Scope 1, 2 and 3 emissions, as set out in its Solvay One Planet sustainability roadmap2. “We are proud to receive this recognition from the SBTi, which reflects our ongoing commitment to raise the bar in tackling climate change by setting serious, science-based targets that will help us fight global warming,” said Ilham Kadri, Solvay CEO. “Our 2030 targets represent a key milestone in Solvay’s journey toward achieving carbon neutrality by 2050. SBTi validation gives us further confidence that we are on the right track to achieve the targets required to help save our planet and protect future generations.” Solvay has launched numerous energy transition projects to switch to renewable electricity, accelerate electrification and phase out coal. By the end of 2022, the Group had already achieved a 15% structural reduction in Scope 1 and 2 emissions since 2018 – a performance that puts Solvay well ahead of its target trajectory. In 2022, Solvay also set a goal to reduce Scope 3 greenhouse gas emissions, both upstream and downstream in the value chain, focusing on two priorities: mobilizing strategic suppliers and accelerating circularity, particularly through its Renewable Materials and Biotechnology growth platform, which aims to accelerate the switch to bio-based and recycled-based raw materials. Solvay reports annually on progress toward achieving its climate targets and Solvay One Planet goals in the Group’s annual integrated report. Additional information is available in the Sustainability section of solvay.com. 1 CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF). Solvay is a science company whose technologies bring benefits to many aspects of daily life. With more than 22,000 employees in 61 countries, Solvay bonds people, ideas and elements to reinvent progress. The Group seeks to create sustainable shared value for all, notably through its Solvay One Planet roadmap crafted around three pillars: protecting the climate, preserving resources and fostering a better life. The Group’s innovative solutions contribute to safer, cleaner, and more sustainable products found in homes, food and consumer goods, planes, cars, batteries, smart devices, health care applications, water and air purification systems. Founded in 1863, Solvay today ranks among the world’s top three companies for the vast majority of its activities and delivered net sales of €13.4 billion in 2022. Solvay is listed on Euronext Brussels and Paris (SOLB). Learn more at www.solvay.com.
2 Solvay’s 2030 Scope 1 and 2 emissions reduction target was upgraded slightly from -30% to -31% by 2030, compared to the 2018 baseline, and is consistent with limiting global warming well below 2°C.
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